Stocks end higher but fall short of record high
NEW YORK (AP) — The Standard & Poor’s 500 index has fallen short of an all-time closing high, but still ended higher following another batch of corporate merger news.
RF Micro Devices jumped 21 percent after the chipmaker said it was combining with TriQuint Semiconductor. TriQuint soared 26 percent.
The S&P 500 index rose 11 points, or 0.6 percent, to close at 1,847.61, barely missing its record high close of 1,848.38 reached on Jan. 15. The index had slumped since then as investors grew worried about slowing growth in the U.S. and China.
The Dow Jones industrial average rose 103 points, or 0.6 percent, to 16,207.14 and the Nasdaq rose 29 points, or 0.7 percent, to 4,292.97.
Jos. A. Bank rose 9 percent after Men’s Wearhouse increased its offer for the clothing retailer.